Dedicated to Deposits: Deals, Data, and Discussion

4.50% 60-Month CD at a MD/PA/NJ Bank - T-Bill Index (Susquehanna)

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Susquehanna Bank
Susquehanna Bank is offering a promotional CD called the Can't Lose 60-month Special. It has a variable rate, but it can't be less than 4.50% APY. The rate will be set at the beginning of each month and is the greater of the 91-day T-bill rate or 4.50% APY. The APY will never exceed 7.00% APY. The minimum deposit is $5,000. A checking account is required (Free Checking with a $25 minimum initial deposit qualifies).

The 4.50% APY is a little low for a 5-year term, but the T-bill link can reduce the risk that it will be left behind if interest rates start shooting up. You can see the history of the 91-day T-bill rates here. Rates were around 5% during the time from 2006 to 2007 when the fed funds rate was at 5.25%. The current 3-month T-bill rate is just under 2%.

You must be in the bank's market area to qualify for this CD. The market area includes many parts of Maryland, East Pennsylvania and South New Jersey. When you try to view the CD special using the link above, it'll ask you to enter your zip code. I was able to see the special with zip codes from Balitmore and Philadelphia.

The bank has been FDIC insured since 1934 (FDIC Certificate # 9694). It has a 4 star rating (excellent) at BauerFinancial based on 3/31/08 data.

Thanks to the reader who emailed me news of this special CD.

Other High Certificate of Deposit Rates

Wachovia just started a CD promotion that includes a 5.25% APY 60-month CD and a 4.25% APY 12-month CD (see post). For more high CD rates, please refer to my Nationwide CD rate summary.

  Tags: Pennsylvania, Maryland, CD rates, Susquehanna Bank, New Jersey, West Virginia

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